Fiserv, Inc

Fiserv, Inc Overview

Company Headquarters US

Founded: 1984

Workforce: ~24,000

Company Working: Fiserv, Inc. is a provider of financial services technologies. The company clientele includes banks, securities broker-dealers, credit unions, leasing and finance companies, and retailers. The company’s solutions include payments, payment processing, customer and channel management, risk and compliance, analytics, insights, and optimization. Fiserv, Inc. offers services to various industries such as banks, biller solutions, business banking, corporate services, government, healthcare, institutional asset management, insurance, property management, lending, telecommunications, utilities, and wealth management, among others. The company primarily operates in the US. Fiserv assists healthcare organizations in transforming the way they engage their clients through messaging, billing, and payment choices that decrease costs, enhance outcomes, and increase satisfaction. Fiserv offers healthcare solutions to satisfy the demands of an expanding market and rising expectations, all while improving customer relationships.

The company’s digital payment solutions include person-to-person payments, account-to-account transfers and account opening and funding. The person-to-person payments and account-to-account transfer services allow consumers a convenient way to send and receive money while offering financial institutions the opportunity to generate new transaction-based revenue, attract new accounts and increase loyalty among existing customers. The company partner with Early Warning Services, LLC to offer a turnkey implementation of its Zelle real-time person-to-person payments service. The company’s turnkey solution simplifies the implementation of Zelle by providing interface, risk management, alerting, settlement and other services to clients. Our Aggregation and Information Services products, including AllData Aggregation, provide consumer-permissioned access to account and transaction data, enabling providers to build novel experiences for opening new accounts, planning for financial wellness, providing financial advice and more.

In January 2019, Fiserv, Inc., and First Data Corporation merged together, and First Data Corporation was acquired by Fiserv Inc. in an all-stock deal. The merger of two elite organizations results in the creation of one of the top providers of payments and financial technology worldwide, as well as an improved value proposition for its customers. The company’s global business serves clients in more than 100 countries and enables more than 6 million merchant locations every year. In the U.S. alone, Fiserv solutions reach nearly 100% of households. In 2021, the company’s Merchant business processed 78 billion transactions, including 21 billion e-commerce transactions. In the company’s Payments and Fintech businesses, Fiserv processed more than 35 billion debit and network transactions and managed more than 1.3 billion bill pay transactions, while supporting more than 1.4 billion issuer accounts.

Strategy

Fiserv, Inc. follows a mix of organic and inorganic growth strategies. The company focuses on acquiring new customers through new product development. There are thousands of enterprises rely on Fiserv for financial services technology and payments innovation. They all collaborate with Fiserv to provide unique experiences while enhancing efficiency, streamlining operations, building client loyalty, and controlling expenses. Fiserv aims to stay at the forefront of fintech innovation by continuously developing and offering cutting-edge technology solutions to its customers. This includes investing in research and development, leveraging data analytics and artificial intelligence, and staying updated with emerging technologies such as blockchain, digital payments, and mobile banking. Fiserv collaborates with various partners, including financial institutions, technology companies, and industry organizations, to jointly develop and deliver innovative solutions to the market. Partnerships can help Fiserv leverage the strengths of different organizations and accelerate its product development and market penetration

Key Developments

Date	Approach	Development
November,2022	Partnership	Fiserv, a top global provider of payments and financial services technology solutions, and First West Credit Union, a British Columbia-based credit union with $16.9 billion in total assets under management, announced an expanded partnership that will make the Clover point-of-sale and business management system from Fiserv available to all FWCU business banking customers in Canada.
April 2022	Product Launch	By the introduction of AppMarket from Fiserv, a major worldwide supplier of payments and financial services technology solutions, financial institutions may have access to a curated collection of fintech solutions that can help them reach more clients, operate more efficiently, and compete more successfully. The fintech solutions accessible on AppMarket will enable Fiserv financial institution clients to adopt open finance tactics to meet growing possibilities in crypto finance, gig economy banking, SMB lending, and other objectives. AppMarket will assist financial institutions of all sizes in accelerating time to market, providing customised services to target audiences, and appealing to younger generations.
April 2022	Acquisition	Fiserv, Inc., a leading global supplier of payments and financial services technology, said today that it has entered a formal agreement to acquire Finxact, Inc., the creator of the cloud-native banking solution that is driving digital transformation across the financial services industry. The transaction furthers Fiserv's digital banking strategy by broadening the company's leading account processing, digital, and payments solutions and positioning Fiserv as the partner of choice for clients looking to scale, accelerate, and expand the digital banking experiences they provide to their customers. Fiserv was an early investor in Finxact, and the arrangement provided for Fiserv to buy the remaining ownership position for about USD 650 million.
April 2023	Product Launch	With the advent of new capabilities from Fiserv, Inc. launched new capabilities for physical debit cards tp avoid wait for banking institutions. Cardholders obtain a new or replaced debit card digitally, enabling them to make purchases both online and in-store without enduring the wait for the actual card to be mail out, received, and authorized.
September 2022	Partnership	Indian Oil Corporation Limited, energy company, partnered with Fiserv, Inc. to improve consumer payments experiences and optimise operations. Customers of IndianOil able to pay with their preferred payment platform via smart POS terminals installed at more than 15,000 IndianOil retail gasoline outlets around the country, collect loyalty points easily, and cut time spent waiting at the fuel outlet.
November 2021	Acquisition	Fiserv Inc. acquired a remaining ownership interest in NetPay Solutions Group ("NetPay"), a multi- channel payment service provider offering a range of capabilities around onboarding, customer lifecycle, risk management and settlement to businesses of all sizes. The Company previously held a 40% noncontrolling interest in NetPay, which was accounted for under the equity method and approximated acquisition date fair value. NetPay is included within the Acceptance segment and further expands the Company's merchant services business.
October 2021	Acquisition	Fiserv Inc. acquired Integrity Payments, LLC ("AIP"), an independent sales organization that promotes payment processing services for merchants, which is included within the Acceptance segment.
June 2021	Acquisition	Fiserv Inc. acquired Spend Labs Inc. ("SpendLabs"), a mobile- native, cloud-based software provider of commercial card payment solutions. SpendLabs is included within the Payments segment and further expands the Company's digital capabilities across mobile and desktop devices for small and mid-sized businesses.
May 2021	Acquisition	Fiserv Inc. acquired Pineapple Payments Holdings, LLC (“Pineapple Payments"), an independent sales organization that provides payment processing, proprietary technology, and payment acceptance solutions for merchants, for $207 million, net of $6 million of acquired cash, and including earn-out provisions estimated at a fair value of $30 million (see Note 10). Pineapple Payments is included within the Acceptance segment and expands the reach of the Company's payment solutions through its technology- and relationship-led distribution channels.
March 2021	Acquisition	Fiserv Inc. acquired Radius8, Inc. ("Radius8"), a provider of a platform that uses consumer location and other information to drive incremental merchant transactions. Radius8 is included within the Acceptance segment and enhances the Company's ability to help merchants increase sales, expand mobile application registration and improve one- to-one target marketing. The Company acquired these businesses for an aggregate purchase price of approximately $87 million
May 2020	Acquisition	Fiserv Inc. acquired Inlet, LLC (“Inlet"), a provider of secure digital delivery solutions for enterprise and middle-market biller invoices and statements. Inlet is included within the Payments segment and further enhances the Company's digital bill payment strategy
March 2020	Acquisition	Fiserv Inc. acquired MerchantPro Express LLC an independent sales organization that provides processing services, point-of-sale equipment and merchant cash advances to businesses across the U.S. Merchant Pro is included within the Acceptance segment and further expands the Company's merchant services business.
March 2020	Acquisition	Fiserv Inc. acquired Bypass Mobile, LLC, an independent software vendor and innovator in enterprise point-of- sale systems for sports and entertainment venues, food service management providers and national restaurant chains. Bypass is included within the Acceptance segment and further enhances the Company's ability to help businesses deliver seamless physical and digital customer experiences.
July 2019	Acquisition	Fiserv Inc. acquired First Data, a global leader in commerce-enabling technology and solutions for merchants, financial institutions and card issuers, by acquiring 100% of the First Data stock that was issued and outstanding as of the date of acquisition. The acquisition, included within the Acceptance and Payments segments, increases the Company's footprint as a global payments and financial technology provider by expanding the portfolio of services provided to financial institutions, corporate and merchant clients and consumers.